ALTERNATIVE NEWS

2 Jul 2012

Early in 2011, the London Bullion Market Association began to push for
gold to be recognised by the Basel Committee on Banking Supervision as
the ultimate high-quality liquid asset. It has been a planned approach
involving the wider financial community, with the European Parliament
voting unanimously to recommend that central counterparties (basically
regulated settlement intermediaries for securities markets) accept gold
as collateral under the European Market Infrastructure Regulation
(EMIR). Lobbying by the LBMA certainly contributed to this favourable
outcome. A growing acceptance of gold as collateral in regulated markets
is forcing the Basel Committee to reconsider the position of gold as a
banking asset, which currently has a 50% valuation haircut. It is now a
racing certainty the haircut will be revised to zero, the same status as
secure cash.

This is an important development for the physical gold market, and
early warning of the change was signalled by a consultation document
issued by the Fed and banking regulators in the light of forthcoming
Basel 3 regulations1. It must have stuck in the Fed’s craw to have to circulate a proposal that “A
bank holding company or savings and loan holding company may assign a
risk-weighted asset amount of zero to cash owned and held in all offices
of subsidiary depository institutions or in transit; and for gold
bullion held in a subsidiary depository institution’s own vaults, or
held in another depository institution’s vaults on an allocated basis,
to the extent the gold bullion assets are offset by gold bullion
liabilities.”(Page 291 and elsewhere).

There can be little doubt if history is any guide that the US Treasury
and the Fed would rather not give gold a status that rivals the dollar,
but they cannot boss the Basel Committee around.

Britain's on the verge of a web-wide Big Brother - with internet and
phone providers readying 'black boxes'to monitor private emails, social
network chats and even calls. The legislation's still in debate, but
the liberty alarm bells are already ringing over the government's hunger
for a license to listen in. Jim Killock from the Open Rights Group says
that, if passed, the law will put British people's sensitive
information at risk from online fraud. Source

Submitted by Tyler Durden:There is a saying that it is better to remain silent and be thought a
fool than to speak out and remove all doubt. Today, the San Fran Fed's
John Williams, and by proxy the Federal Reserve in general, spoke out,
and once again removed all doubt that they have no idea how modern money
and inflation interact. In a speech titled, appropriately enough, "Monetary Policy, Money, and Inflation", essentially made the case that this time is different and that no matter how much printing the Fed engages in, there will be no inflation.

To wit: "In a world where the Fed pays interest on bank reserves,
traditional theories that tell of a mechanical link between reserves,
money supply, and, ultimately, inflation are no longer valid. Over
the past four years, the Federal Reserve has more than tripled the
monetary base, a key determinant of money supply. Some commentators have
sounded an alarm that this massive expansion of the monetary base will
inexorably lead to high inflation, à la Friedman.Despite these dire
predictions, inflation in the United States has been the dog that didn’t
bark." He then proceeds to add some pretty (if completely irrelevant)
charts of the money multipliers which as we all know have plummeted and
concludes by saying "Recent developments make a compelling case that
traditional textbook views of the connections between monetary policy,
money, and inflation are outdated and need to be revised." And actually,
he is correct: the way most people approach monetary policy is 100%
wrong. The problem is that the Fed is the biggest culprit, and while
others merely conceive of gibberish in the form of three letter economic
theories, which usually has the words Modern, or Revised (and why note
Super or Turbo), to make them sound more credible, they ultimately harm
nobody. The Fed's power to impair, however, is endless, and as such it
bears analyzing just how and why the Fed is absolutely wrong.

First, here is our rule of thumb to determine if someone who talks
about money, inflation or monetary policy has even a vague clue of what
they are talking about: do a text search for the words: repo, shadow banking, collateral, collateral-chains, rehypothecation, or deposit-free money creation.If not one of those terms appears anywhere, feel free to toss the reading material right into the trash.

Shockingly, at 9:26 into the clip, the CNBC host Andrew
Sorkin (not Whalen, the CNBC host Sorkin!) brings up Barclays’
manipulation of LIBOR rates, and states: ‘You hear about these things and you used to think these are conspiracy theories! You used to hear things that people are manipulating LIBOR, people are manipulating the silver markets- CNBC’s Michelle Caruso-Cabrera: ‘And they are!!‘ - Sorkin: ‘And they are!!‘ - Chris Whalen: ‘It’s because these markets have become so concentrated that a few players can do it.‘

It appears Blythe and JP Morgan’s
Commodities Desk have a serious issue on their hands, as now even CNBC
hosts are openly admitting that silver is manipulated and that silver
manipulation is a fact, and NOT a conspiracy! Watch Video

Israel has witnessed more mass demonstrations on Saturday as it seems
its people's frustration is boiling over. The new protests follows last
week's demonstration, where at least 85 people were arrested, in what
local people say the government used heavy handed tactics (ha! Try being Palestinian) in trying to
break up demonstrations. Protesters are demanding that the prices of
food, housing and education come down. Source

Ellen Brown:On Friday, June 29th, German Chancellor Angela
Merkel acquiesced to changes to a permanent Eurozone bailout
fund—“before the ink was dry,” as critics complained. Besides easing
the conditions under which bailouts would be given, the concessions
included an agreement that funds intended for indebted governments could
be funneled directly to stressed banks.

[T]he eurozone’s bailout fund (backed by taxpayers’ money) will be taking a stake in failed banks.Risk has been increased. German taxpayers have increased their
liabilities. In future a bank crash will no longer fall on the shoulders
of national treasuries but on the European Stability Mechanism (ESM), a
fund to which Germany contributes the most.In the short term, these measures will ease pressure in the markets.
However there is currently only 500bn euros assigned to the ESM. That
may get swallowed up quickly and the markets may demand more. It is
still unclear just how deep the holes in the eurozone’s banks are.

(Above: Historic warning)

The ESM is now a permanent bailout fund for private banks, a
sort of permanent “welfare for the rich.” There is no ceiling set on
the obligations to be underwritten by the taxpayers, no room to
negotiate, and no recourse in court.

Actor and broadcaster, Tony Robinson has said that he no longer has any
respect for British banksters and the British banking system. Speaking
after Barclays was fined £290m for manipulating banking interest rates,
Robinson catalogued how the banks had let down the country for their
own interests.

An anonymous insider from one of Britain's biggest lenders – aside from
Barclays –explains how he and his colleagues helped manipulate the UK's
bank borrowing rate. Neither the insider nor the bank can be identified for
legal reasons.

It was during a weekly economic briefing at the bank in early 2008 that I
first heard the phrase. A sterling swaps trader told the assembled
economists and managers that "Libor was dislocated with itself".
It sounded so nonsensical that, at first, it just confused everyone, and
provoked a little laughter.

Before long, though, I was drawing up presentations to explain the "dislocation
of Libor from itself" for corporate relationship managers. I was
deciphering the subject in emails, internally and externally. And I was
using the phrase myself openly with customers of the bank.

What I was explaining was that the bank was manipulating Libor. Only I didn't
see it like that at the time.

What the trader told us was that the bank could not be seen to be borrowing at
high rates, so we were putting in low Libor submissions, the same as
everyone. How could we do that? Easy. The British Bankers' Association,
which compiled Libor, asked for a rate submission but there were no checks.
The trader said there was a general acceptance that you lowered the price a
few basis points each day.

By Madison Ruppert:The New York Police Department apparently classifies individuals who
choose to exercise their right to videotape police engaging in their
public duties “professional agitators” as revealed by a poster inside
the NYPD’s 30th Precinct.

One of the most laughable parts of this poster – aside from the
glaring errors which most high school graduates would likely catch – is
that the upper left hand corner appears to show the seal for the NYPD’s “Intelligence Division”.

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Dear Reader

Are YOU Involved or Institutionalized? Our belief that the global economic crisis would persist and deepen is being vindicated and current events are now as clear as ever on the matter. Time for all of us to wake up, stand up and be counted or continue to lose all our liberties. Protect your homes and families. The sun will still rise but financial chaos and suffering due to the global fascist banksters' greed and corruption, slaughter due to the MIC's directed world wars in our name etc. is not pretty. We are feeling the effect on our society the size and like of which we have never known.

We are way past being surprised at the blanket suppression of this information by the BBC and main stream media propaganda machines. Information is clearly available elsewhere and unchallenged, accounts for a far more realistic rendition of what we have actually seen and what we continue to see develop, whilst the main stream news put out leaves many confused and bewildered, 99.9% of us wrong footed and the awakened indignant. As we can now see, the apparently 'soft fascist' powers that be aim to block these alternative avenues of information. Book up, "Long Live the Evolution."Feel free to kopimi. Angelo Agathangelou.

P.S. The MHRM, are calling out the constant misinformation disseminated by and maintain our open challenge especially to western radical feminists, to point out just one area where government in the UK, Europe or anywhere else in the English speaking world disadvantages women and girls when compared with men and boys, ...the wage disparity myth having long been debunked by serious academics and statisticians. So far this challenge has remained unanswered. Western feminism is obsolete.

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N.B.

These pages exist because we believe information from all perspectives should be aired, they do not necessarily reflect our views unless explicitly stated. We do not intend to cause offense, but we feel there is a need for such a shift in our society that to call it change rather than evolution would be an understatement. A velvet revolution towards living with reality for the individual, the family and society. A revolution towards living within our means and taking responsibility for ourselves, instead of mortgaging the future of our children to bloated leech faux democracy for the benefit of Ponzi 'banksters' and The Military Industrial Complex.